New York - Soros: World Financial System on Brink of Collapse
New York - The world financial system not only isn’t functioning, it’s on the brink of collapse, according to investor George Soros.
The Hungarian-born philanthropist, who recently spent time in countries where his charities are active, such as Africa, said he sees a growing bifurcation between emerging and developed countries – and he’s more confident about prospects for the emerging ones.
The current global financial system is in a “self-reinforcing process of disintegration,” Mr. Soros warned, and “the consequences could be quite disastrous. You have to do what you can to stop it developing in that direction.”
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